Delegations will find attached an information from the Presidency concerning the AoB legislative item at the upcoming ECOFIN Council on the state of play of legislative proposals in the field of financial services.


Progress on KEY financial services' legislative files

17 June 2016 ECOFIN



Presented by the Commission

State of play


Money Market Funds regulation (MMF) 

Aim: to create a regulatory framework for money market funds.

September 2013

·       Negotiating Mandate:

Expected June 2016

·       Trilogues to start


Banking Structural Reform (BSR)

Aim: to strengthen financial stability by requiring the largest and most complex EU banks to separate potentially risky trading activities from their deposit-taking business.

January 2014

·       Negotiating Mandate:

June 2015

·       EP position pending


Revision of the Occupational Pensions Directive (IORP)

Aim: revision of the existing IORP Directive.

April 2014

·       Negotiating Mandate:

December 2014

·       Trilogues ongoing


Regulation on simple, transparent and standardised securitisation (STS)

Aim: to lay down common rules on securitisation and create a European framework for STS securitisation.

September 2015

·       Negotiating Mandate:

December 2015

·       EP position pending


Regulation amending CRR as regards securitisation (CRR)

Aim: to revise the existing capital requirements regulation in relation to securitisation.

September 2015

·       Negotiating Mandate:

December 2015

·       EP position pending


Regulation establishing an European Deposit Insurance Scheme (CBU/EDIS)

Aim: to create a European Deposit Insurance Scheme to complement and gradually replace existing national deposit guarantee funds.

November 2015

·       Review ongoing in the Council Ad Hoc Working Party on the Strengthening of the Banking Union


Prospectus Regulation (Prospectus)

Aim: to revise the existing prospectus rules to improve access to finance for companies and simplify information for investors.

November 2015

·       Negotiating Mandate:

June 2016

·       EP position pending


CRR Amending Proposal on exemptions for commodity dealers

Aim: to prolong the current 'sunset clause' exemption for commodity dealers from large exposures and own funds requirements under CRR, before introducing a possible specific regime.

December 2015

·       Political Agreement: 

March 2016

·       Pending OJ publication


MiFID/MiFIR Quick-fix

Aim:  To extend the date of application and certain other dates by one year.

February 2016

·       Political Agreement: 

May 2016

·       Pending adoption